Truist Financial Co. (NYSE:TFC) Receives $43.17 Average PT from Analysts

Truist Financial Co. (NYSE:TFC) has been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $43.17.

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price target on shares of Truist Financial in a research note on Monday, April 22nd. Piper Sandler upped their price target on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Finally, HSBC upped their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bleakley Financial Group LLC lifted its holdings in shares of Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after acquiring an additional 1,731 shares during the period. Natixis Advisors L.P. raised its holdings in Truist Financial by 30.9% in the fourth quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock valued at $13,783,000 after buying an additional 88,035 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Truist Financial by 53.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares during the period. Parnassus Investments LLC purchased a new position in Truist Financial in the fourth quarter valued at approximately $95,049,000. Finally, Rafferty Asset Management LLC raised its holdings in Truist Financial by 47.7% in the fourth quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after buying an additional 382,976 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 2.7 %

TFC stock opened at $38.85 on Friday. The company has a market cap of $51.99 billion, a price-to-earnings ratio of -29.43, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial has a 12 month low of $26.57 and a 12 month high of $40.51. The company has a fifty day moving average price of $37.89 and a 200 day moving average price of $37.13.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. Sell-side analysts expect that Truist Financial will post 3.36 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s payout ratio is currently -157.58%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.